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I’m working on a economics question and need support to help me learn.Directions: Answer each question below by writing a strong paragraph that includes supporting information from the lesson. Please cite your outside resources.A strong paragraph includes a minimum of three to five details from the lesson and is written in Academic English form. For more information on Academic English form, refer to the documents in the Orientation.1. Write a sentence or two defining the following terms in your own words. Give examples of each.a. Allocateb. Absolute Advantagec. Capitald. Cyclicale. Demand Curvef. Discouraged Workersg. Planned Systemh. Public Goodsi. Recessionj. Dishonest workersk. Elastic Demandl. Entrepreneurshipm. Federal Reserven. Frictionalo. Resourcesp. Scarcityq. Substitute Goodsr. Monopolys. Oligopolyt. Inducedu. Inelastic Demandv. Inflationw. Law of Comparative Advantagex. Law of Diminishing Demandy. Market Equilibrium Pointz. Market System2. Compare and contrast Macroeconomics and Microeconomics. Give specific details and examples.3. Describe the economic cycle. Give specific details and examples. Requirements: normal   |   .doc file

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